XRP price started a downside correction from the $0.6480 resistance. The price is now testing the $0.550 support and might eye a fresh increase.
XRP price started a downside correction below the $0.620 and $0.600 levels.
The price is now trading below $0.600 and the 100-hourly Simple Moving Average.
There is a key bearish trend line forming with resistance at $0.5750 on the hourly chart of the XRP/USD pair (data source from Kraken).
The pair could start a fresh increase if it clears the $0.580 resistance zone.
XRP Price Hits Key Support
XRP price struggled to extend gains above the $0.6450 and $0.650 levels. The price started a downside correction below the $0.600 level like Ethereum and Bitcoin.
There was a move below the $0.5850 and $0.580 support levels. The price dipped below the 50% Fib retracement level of the upward wave from the $0.4925 swing low to the $0.6475 high. However, the bulls are now active near the $0.5500 support.
The 61.8% Fib retracement level of the
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